SingularDTV Creates SingularX Token Exchange For Intellectual Propertybr>
Blockchain entertainment studio SingularDTV has created a decentralized token exchange platform, hoping to create a marketplace for trading intellectual property tokens from different rights-holders.
Called SingularX (with its own SNGX token), the market is being created with New Zealand blockchain venture studio Centrality. SingularDTV content creators will be able to list their tokens on SingularX to support their tokenized ecosystems, while creators, rights-holders and fans will be able to exchange ETH, ERC-20 tokens, and the tokens of their favorite artists on the platform.
Artists and other rights holders who wish to participate in SingularX must first visit SingularDTV’s Tokit platform and establish their own token. The intellectual property they create is programmatically embedded in the token, so that the rights, revenue, and royalties are managed by the creator. Tokens created via Tokit can then be listed on SingularX’s marketplace. The actual distribution of the intellectual property that can be purchased by the Tokit tokens will be handled when the Ethervision digital application is launched later this year.
SingularX is now open to the public for listings. The service will open a public beta testing period in early February, during which public beta testers will have the opportunity to trade ether at a discounted rate.
The marketplace is the first project to launch from the collaboration between SingularDTV and Centrality. The two have slated Blockeeper and PayCheck, both digital currency accounting applications to simplify and automate payroll processes in payroll, to be released later this year.
Shreesh Tiwari, SingularDTV chief strategic officer, said the P2P platform will be permit trading in tokens created by using SingularDTV’s Tokit feature. “Tokit is our project creation and rights management application,” said Tiwari. “The SNGX token was generated through Tokit, which powers SingularX. SNGX empowers artists to run their own token economic system, and all exchange transaction fees get embedded in the SNGX. Token holders can withdraw the revenue pushed into it or store it there.”